Estrada approves another multibillion-peso reclamation project in Manila Bay
Daily Tribune | Written by Pat C. Santos | February 8, 2017
Manila Mayor Joseph “Erap” Estrada has approved another multi-billion-peso reclamation project in Manila Bay — the biggest and most technologically advanced in the city — that will serve as the new commercial and tourism hub of the capital city.
During the signing of a memorandum of understanding (MoU) with the Philippine Reclamation Authority (PRA) and UAA Kinming Group Development Corp. last Monday, Estrada expressed the belief this new project will bring Manila a step closer to regaining its old image as Asia’s “Pearl of the Orient.”
“This important event will usher in a new era of prosperity for the great city of Manila. It will bring our city a step closer to recapturing its old glory, and being recognized once again as the Pearl of the Orient,” Estrada said in his speech.
The UAA Kinming Development Corp. has proposed to put up the New Manila Bay International Community, a 407.42-hectare mixed-use commercial and tourism center in the central area of Manila Bay — “a city within a city” — that will house future developments and a host of new businesses and tourism and entertainment facilities.
The signed MoU officially seals the tripartite cooperation of the city government of Manila, PRA and UAA Kinming Group Development Corp for the construction of this ambitious project.
With the new business district, Estrada said the city government will be able to invite more local and foreign investors in Manila that will in turn bring in more tax revenues for the city and thousands of job opportunities for Manileños.
“We will soon see the expansion of Manila’s borders and its capacity to host more business ventures which will drive our Manila’s economy,” Estrada said.
Kitson Kho, executive director of UAA Kinming Group, for his part, said: “We look very much forward to this journey ahead of us as we strive to bring glory back to Manila.”
Estrada said the revenues the city government will be able to realize from this soon-to-be-built commercial district will be earmarked for more educational, health, livelihood and other related social initiatives for the city residents.
“This reclamation project will be a symbol of our mission and vision of creating a city that is prepared for a future of economic prosperity and social equity,” the Manila mayor added as he again thanked President Duterte for his support to big-ticket reclamation projects in Manila.
Described as an integrated “New Manila Bayfront Destination,” UAA said the project is envisioned to become a sustainable, world-class urban center at the heart of Manila Bay that aims to reshape Manila as the “Pearl of the Pacific.”
It will house skyscrapers, business centers, shopping malls, sports and recreational facilities and even educational institutions. It even has its own “water taxi” to ferry tourists around and up to SM Mall of Asia on the other side of Manila Bay and a theme park, according to UAA.
Another multibillion-peso reclamation project is set to begin construction in Manila Bay — the 148-hectare state-of-the art Solar City urban center that will host more business centers, residential and commercial properties and tourism facilities, including an international cruise ship terminal.
From this ultra-modern commercial and business hub, Manila is projected to generate up to P17 billion in taxes every year on top of the P10 billion in real property taxes.
It is also expected to generate 100,000 jobs during the construction phase and up to 500,000 more once it becomes operational which Estrada believes would help Manila’s unemployment situation.
Only last December, Estrada signed a similar MoU with PRA and R-II Builders Inc. that will pave the way for the P7.4-billion expansion of the Manila Harbour Centre in Tondo.
Under the agreement, Manila will be appropriated with a 15-hectare portion of the reclaimed area which the city government is planning to develop as a new industrial complex.